In 2016, AkademikerPension divested $1 billion from major oil companies due to concerns over climate change and sustainable investing. The decision stemmed from the realization that long-term investments in fossil energy would be financially unviable. Chief investor Anders Schelde stated the focus was on achieving responsible and sustainable investment results. Despite this divestment, the fossil fuel sector continued to thrive, receiving substantial investments and expansion in exploration. Evidence shows banks are still investing more in fossil fuels than in renewable energy infrastructure, indicating a lag in the transition to greener investments.
In 2016, AkademikerPension divested $1 billion from major oil companies as global temperatures continued to rise, realizing long-term fossil energy investments were unsustainable.
Anders Schelde of AkademikerPension emphasized the decision to divest was about achieving good investment results responsibly and sustainably.
Despite divestments, the fossil fuel sector continued to see significant investment, with reports indicating banks invest more in fossil fuels than renewables.
The International Energy Agency flagged that while more energy capacity now comes from solar and wind, real investment continues disproportionately favoring fossil fuels.
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